Minot, New Town & Williston, ND
- INVESTMENT SALE: $6,495,000
- Rare multi-tenant industrial portfolio located in the heart of Bakken oil activity
- Consists of 2 properties and 4 buildings totaling 97,376 SF of warehouse/shop space on 9.5 AC
- Portfolio can be purchased in whole or divided. Click individual properties below to see investment details:
- Rental rates are below market rates
- Full portfolio occupancy is currently 88.82%
- Priced below replacement costs
- Buildings are all metal on concrete slabs and include sprinklers
- Office sizes and layouts vary; most have an average of 7% office space
- Bakken oil production activity is at an all-time high prompting market industrial vacancy rates to drop to 2%, which makes this investment ripe for sustainable returns
DUE DILIGENCE DOCUMENTS
- BAKKEN OIL PRODUCTION ACTIVITY: 2018 oil prices have been increasing, prompting Bakken oil production activity to reach historic levels. In April, production reached a new record of 1.223 million barrels per day, beating out the previous record set in December 2014 at the height of the oil boom. The first six months brought an average monthly WTI price of $65.46 per barrel. This also beats a 2014 record, which was the last time the monthly average price was above $60 per barrel.
- STABILIZATION UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. Current Bakken industrial market conditions see increased demand, lowered inventories and shrinking vacancy rates (7% and dropping). This all equates to a 30% increase in lease rates since the downtown. With this stabilization upswing, industrial investors now have a strong opportunity for future returns.